Q2 (NYSE:QTWO) Stock Rating Reaffirmed by Morgan Stanley

Q2 (NYSE:QTWO)‘s stock had its “equal weight” rating restated by investment analysts at Morgan Stanley in a note issued to investors on Thursday, Benzinga reports. They currently have a $50.00 price target on the technology company’s stock, up from their previous price target of $40.00. Morgan Stanley’s target price indicates a potential downside of 17.16% from the company’s current price.

A number of other analysts have also issued reports on the company. BTIG Research lifted their target price on Q2 from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada upped their target price on Q2 from $46.00 to $60.00 and gave the company a “sector perform” rating in a research report on Thursday. Robert W. Baird raised their price target on shares of Q2 from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday. Stifel Nicolaus upped their price target on shares of Q2 from $48.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, DA Davidson raised their price objective on shares of Q2 from $48.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Q2 presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.33.

Q2 Trading Up 1.3 %

Shares of NYSE QTWO traded up $0.78 during midday trading on Thursday, hitting $60.36. The stock had a trading volume of 1,212,357 shares, compared to its average volume of 623,325. The company has a fifty day moving average price of $50.79 and a 200 day moving average price of $43.14. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -44.71 and a beta of 1.47. Q2 has a 1-year low of $21.21 and a 1-year high of $60.98. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 1.06.

Q2 (NYSE:QTWO) last issued its earnings results on Wednesday, February 21st. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Q2 had a negative net margin of 12.35% and a negative return on equity of 5.88%. The business had revenue of $162.12 million for the quarter, compared to the consensus estimate of $161.31 million. On average, analysts predict that Q2 will post -0.05 earnings per share for the current year.

Insider Transactions at Q2

In other Q2 news, CFO David J. Mehok sold 5,806 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $46.01, for a total transaction of $267,134.06. Following the completion of the transaction, the chief financial officer now directly owns 159,085 shares of the company’s stock, valued at approximately $7,319,500.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO David J. Mehok sold 5,806 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $46.01, for a total transaction of $267,134.06. Following the completion of the sale, the chief financial officer now directly owns 159,085 shares of the company’s stock, valued at $7,319,500.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew P. Flake sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $41.76, for a total transaction of $1,879,200.00. Following the sale, the chief executive officer now owns 473,411 shares of the company’s stock, valued at $19,769,643.36. The disclosure for this sale can be found here. In the last three months, insiders sold 290,702 shares of company stock valued at $13,014,042. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Q2 by 29.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,439 shares of the technology company’s stock valued at $305,000 after buying an additional 2,123 shares in the last quarter. Washington Capital Management Inc. purchased a new position in Q2 during the 3rd quarter valued at about $526,000. Oak Ridge Investments LLC acquired a new position in shares of Q2 in the 3rd quarter valued at about $2,906,000. Jennison Associates LLC lifted its position in shares of Q2 by 147.4% in the third quarter. Jennison Associates LLC now owns 1,225,286 shares of the technology company’s stock worth $39,540,000 after purchasing an additional 729,959 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Q2 during the third quarter worth approximately $268,000.

Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.